bmetzler's Journal: Social Security Reform

Social Security is a big issue right now. There's a lot of information and disinformation being spouted around right now. However, all agree that there will be a Social Security shortfall in the future. Senator Boxer said herself that in 2042 the trust fund will have been depleted, and that Social Security will only be able to provide 73% of current benefits. I don't know about you, but I'm not looking forward to losing 27% of my "security," when it's barely meant to be more then the poverty level to begin with. However, there are solutions, but we need to initiate them now, if we expect to depend on them in 30-40 years. To keep up with the Social Security reform, I have created a new blog. If you are interested in preserving your social security benefits in the future, I'd encourage you to pay attention the the proposed Social Security reforms now.

I've linked in.

[SiliconJesus]

Do you have an RSS feed? Good stuff man.

My point isn't that nothing should be done

[Marxist Hacker 42]

My point is that we DID do something, back in the 1980s, to fix it. That something was an increase in FICA taxes, producing a surplus to create the Trust Fund. If Clinton and Bush had kept their neo* dirty hands off the Trust Fund, we'd have no problem- SS would be paying 100% benefits until 2075. The solution is simple- raise profiteering taxes on the people who earn money off of government actions like the War On Terror, and get rid of that stupid $95,000 cap on FICA taxes. Use that money to pay back

Re:My point isn't that nothing should be done

[Marxist Hacker 42]

That's what you don't understand. It wasn't 'fixed,' the problem was just pushed off to another generation. In 2018 we will no longer be producing a surplus.

Which means nothing- that was expected in the plan, that's the entire reason for having a surplus to begin with. Likewise, in 2042 the baby boomers will be dropping like flies, leaving us with the millenial generation producing another surplus as their population boom once again gives us more high-earning workers than retired people.

Is that what yo